Core Viewpoint - The demand for silver is surging due to its essential role in electronic devices and renewable energy, leading to record high prices and a projected supply shortfall [1][3][9]. Industry Demand - Silver is critical for various industries, consuming 59% of the world's output, particularly in electronics, solar energy, AI data centers, automotive, and wearables [5][8]. - The global solar installations increased by 33% in 2024, with expectations of continued growth in the low double digits through 2029 [8]. - Electric vehicles require twice the amount of silver compared to gas-powered vehicles, with predictions that half of all vehicles sold by 2035 will be EVs [8]. Supply Challenges - Global mine production reached a seven-year high of 844 million ounces in 2025, but a shortfall of 118 million ounces is projected for 2026 [9]. - Barriers to silver production include strikes, land use disputes, and logistical challenges in major producing regions [10]. Geopolitical Factors - Silver is gaining traction as a safe haven for investors amid global political uncertainties, with expectations of stockpiling by nations [6][7]. Company Insights - New Pacific Metals is positioned as a significant future supplier of silver, owning two of the world's largest undeveloped silver projects in Bolivia [12][16]. - The Silver Sand project has the potential to produce about 12 million ounces of silver annually at low costs [13]. - The Carangas Silver-Gold Project is expected to add approximately 6.6 million ounces to annual supply, with strong economic fundamentals [14][15]. Strategic Approach - New Pacific Metals emphasizes careful project identification, geological studies, and community engagement to ensure long-term shareholder value [17].